Parnassus Investments LLC Sells 597,814 Shares of Guidewire Software, Inc. (NYSE:GWRE)

Parnassus Investments LLC trimmed its holdings in shares of Guidewire Software, Inc. (NYSE:GWRE) by 54.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 499,611 shares of the technology company’s stock after selling 597,814 shares during the quarter. Parnassus Investments LLC owned approximately 0.60% of Guidewire Software worth $84,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GWRE. Versant Capital Management Inc bought a new position in shares of Guidewire Software during the 4th quarter valued at approximately $25,000. Assetmark Inc. increased its position in shares of Guidewire Software by 537.0% during the 3rd quarter. Assetmark Inc. now owns 172 shares of the technology company’s stock valued at $31,000 after purchasing an additional 145 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Guidewire Software in the 3rd quarter worth about $33,000. Cullen Frost Bankers Inc. purchased a new position in shares of Guidewire Software during the fourth quarter valued at approximately $34,000. Finally, Brooklyn Investment Group purchased a new position in Guidewire Software during the 3rd quarter valued at $42,000.

Insider Activity at Guidewire Software

In other news, CFO Jeffrey Elliott Cooper sold 2,828 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $171.06, for a total transaction of $483,757.68. Following the transaction, the chief financial officer now directly owns 74,911 shares of the company’s stock, valued at approximately $12,814,275.66. The trade was a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael George Rosenbaum sold 1,400 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $170.04, for a total value of $238,056.00. Following the completion of the transaction, the chief executive officer now directly owns 269,130 shares of the company’s stock, valued at $45,762,865.20. This represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,056 shares of company stock valued at $8,094,892. 0.48% of the stock is owned by insiders.

Guidewire Software Trading Down 0.3 %

NYSE GWRE opened at $175.93 on Friday. The firm’s fifty day moving average is $194.88 and its two-hundred day moving average is $185.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $14.69 billion, a PE ratio of 488.69, a P/E/G ratio of 37.21 and a beta of 1.31. Guidewire Software, Inc. has a one year low of $107.00 and a one year high of $219.59.

Guidewire Software (NYSE:GWRE) last issued its earnings results on Thursday, March 6th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.44). The company had revenue of $289.48 million for the quarter, compared to analysts’ expectations of $285.74 million. Guidewire Software had a return on equity of 2.38% and a net margin of 2.91%. Analysts expect that Guidewire Software, Inc. will post 0.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research note on Friday, March 7th. Oppenheimer boosted their target price on Guidewire Software from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. DA Davidson reaffirmed a “buy” rating and issued a $210.00 price target on shares of Guidewire Software in a report on Wednesday, December 4th. Stifel Nicolaus raised their price target on shares of Guidewire Software from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada upped their target price on Guidewire Software from $215.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.08.

Guidewire Software Company Profile

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.